NEWS
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- The Banks Board Bureau (BBB) has identified 75 senior officials of state-run banks for leadership roles across public sector banks (PSB).
- The BBB has also asked the government to give complete autonomy to Public sector banks to decide the organisation structure for better efficiency. Further, they have also suggested a revamp of credit governance architecture in state-run banks to minimise credit costs and improve efficiency of credit allocation.
- The Banks Board Bureau (BBB) was set up in April 2016, under the government’s Indradanush programme to reform public sector banks.
- BBB is an autonomous body of the Government of India.It is tasked to (a)improve the governance of Public Sector Banks, (b)recommend selection of chiefs of government owned banks and financial institutions and (c)to help banks in developing strategies and capital raising plans
- In 2015,Government had launched Mission Indradhanush to revamp the functioning of public sector banks.The seven pronged plan of it includes appointments,bank board bureau,capitalisation,de-stressing,empowerment, framework of accountability and governance reforms.
